Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

AbbVie

ABBV stock analysis · Health Care · Biotechnology

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$251.64HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$444.6B

Price × SEC outstanding shares. Shares measured 2026-04-28. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$153.16

Equity cash-flow scenario · SEC outstanding shares at 2026-04-28 · -39.1% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

17.3%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-79.7%

6 industry peers · median 21.5×

How this is calculated ↗
Valuation

Historical multiples

52.5×

7 annual observations · snapshot P/E 106.2× · 102.2% versus history

How this is calculated ↗
Valuation

Free cash flow yield

4.0%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

19.3%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

-0.9%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

2.8%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

-11.0%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

4.9%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 24.9B2020-12-31: cfo $17,588,000,000.002020-12-31: capex $798,000,000.0020202021-12-31: cfo $22,777,000,000.002021-12-31: capex $787,000,000.0020212022-12-31: cfo $24,943,000,000.002022-12-31: capex $695,000,000.0020222023-12-31: cfo $22,839,000,000.002023-12-31: capex $777,000,000.0020232024-12-31: cfo $18,806,000,000.002024-12-31: capex $974,000,000.0020242025-12-31: cfo $19,030,000,000.002025-12-31: capex $1,214,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$192.10$209.60$228.42
10.0%$140.77$153.16$166.46
12.0%$111.06$120.51$130.64

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3161.2B4.2B19B1.2B134B
2024-12-3156.3B4.3B18.8B974M135.2B
2023-12-3154.3B4.9B22.8B777M134.7B
2022-12-3158.1B11.8B24.9B695M138.8B
2021-12-3156.2B11.5B22.8B787M146.5B
2020-12-3145.8B4.6B17.6B798M150.6B
2019-12-3133.3B7.9B13.3B552M89.1B
2018-12-3132.8B5.7B13.4B638M59.4B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue61.2BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-20
netIncome4.2BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent/common earnings proxy4.2BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-20
cfo19BNetCashProvidedByUsedInOperatingActivities2026-02-20
capex1.2BPaymentsToAcquirePropertyPlantAndEquipment2026-02-20
operatingIncome15.1BOperatingIncomeLoss2026-02-20
assets134BAssets2026-02-20
equity-3.2BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent book equity proxy-3.3BStockholdersEquity2026-02-20
debt64.5BLongTermDebt2026-02-20
shortDebt2.5BShortTermBorrowings2026-02-20
cash5.2BCashAndCashEquivalentsAtCarryingValue2026-02-20
shares1.8BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-20
dividends11.7BPaymentsOfDividends2026-02-20
buybacks980MPaymentsForRepurchaseOfCommonStock2026-02-20
issuance172MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from the exercise of stock options: 172000000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 11 financing lines reconcile exactly to reported financing cash flow -12724000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net 68000000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates.
2026-02-20